Retirement Annuity
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Retirement Annuity
Tax-effective way to save towards your retirement.
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Retirement Annuity benefits

Adapts to your today

Adapts to your today

Adjust your portfolio and contributions anytime.

Retirement benefits

Retirement benefits

Get a cash lump sum with a portion tax-free when you retire.

Disability benefits

Disability benefits

Payout if you are disable before the age of 55.

Death benefits

Death benefits

Payout to dependents and beneficiaries if you pass away.

 

What you need to know

  • What is it?

    The Absa Retirement Annuity offers the added benefit of tax-free transfers from an approved pension, provident, preservation or other retirement annuity fund.
     

    What do you get?

    • With guidance from an adviser, you can customise your portfolio to suit your current and future lifestyle goals.
       

    Terms and conditions apply.*

     

  • Fees and charges

    Minimum monthly debit: 

    • R500 per month

    Minimum lump sum investment: 

    • R25 000
       

    Initial administration fees (lump sum):

    • R0

    Annual policy charges:

    • First: R250 000 – 0.75%, 
    • Next: R250 000 – 0.50%, 
    • Above: R750 000 – 0.25%

    Transfers from retirement annuity funds:

    • 0.00%
       

    Note: In terms of the Financial Services Laws General Amendment Act, 2008, no initial fees are payable on Section 14 transfers between Retirement Annuity Funds. Annual fees are calculated on the market value of the units held in the fund. Initial and annual financial adviser initial and annual review fees are negotiable between you, the investor, and the financial adviser. 

  • Tax implications

    • Deduct your contributions from taxable income (within limits and legislation)
    • Get up to one third of retirement proceeds available in cash, with a portion tax-free
    • Past contributions that weren’t deducted can increase this tax-free portion
    • The balance of the retirement benefit proceeds must be used to purchase a compulsory annuity
    • Annuity income is subject to normal tax
    • No tax on interest, rental income or foreign dividends during the investment term.

  • How to apply

    To start investing, all you need to do is:

     

    1. Download and complete the forms below
    2. Email the forms to aimscc@absa.africa
    3. We'll get back to you as soon as possible

     

    Forms:

    One Investment form for Individuals

    One Investment form for Legal Entities


     

    Need something else?

    We have investments to suit your budget and goals. Visit the resources page for more.

Explore your options

Preservation Funds

Re-invest your savings from a previous retirement fund or your payout when you change jobs.
Investment options
Local/Offshore
Access to funds
Retirement
Contributions
Fund Transfer
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Need more help?

Let one of our consultants help you get the best investments for your needs.

Contact us:

Call us on : 0860 000 005

Email us at : aimscc@absa.africa